MicroStrategy has been the most consistent company when it comes to Bitcoin investment and the company has continued to increase its holdings over the last two years. When the crypto winter triggered by the LUNA collapse and then the FTX bankruptcy ravaged the crypto sector, MicroStrategy saw its BTC investments sit underwater for a long time. But now, the company is beginning to see better days as its stash goes back into the green.
MicroStrategy Is Over $200 Million In Profit
MicroStrategy is by far the public company with the largest BTC holdings, and the steadfast belief in the digital asset has finally begun to pay off. Data from the Bitcoin Treasuries website shows that the company currently holds a total of 152,333 BTC, costing it a total of $4.52 billion.
Presently, MicroStrategy’s entire Bitcoin investment is now worth $4.728 billion, meaning that the company is over $200 million in profit already. This comes as BTC has surpassed the $31,000 level, rising above the average cost price for the company’s purchases.
The company which had started buying BTC back in 2020 made one of its most significant purchases in June when it bought 12,333 BTC at an average price of $28,136, totaling $347 million. This most recent purchase brought the average price of the company’s BTC holdings down to $29,668, putting it in a profitable position following Bitcoin’s price rally.
BTC fails to hold $31,000 | Source: BTCUSD on TradingView.com
Other Companies Invested In Bitcoin
MicroStrategy is not the only company that has seen the potential of Bitcoin and has tried to leverage its forecasted growth. However, none others have gone in as deeply as the company has. For this reason, MicroStrategy holds over 2x of the total BTC held by the top 10 companies holding BTC.
Marathon Digital Holdings, a Bitcoin mining company, boasts the second-largest stash with 12,232 BTC realized from its mining activities over the years. The next largest company holding BTC is Elon Must-led Tesla which currently holds 9,720 BTC after selling around 75% of its total holdings.
MicroStrategy holds more BTC than the combined holdings of the other top 20 companies | Source: Bitcoin Treasuries
The third, fourth, and fifth positions are held by mining company Hut 8 Mining Corp., Block Inc., led by ex-Twitter CEO Jack Dorsey, and Bitcoin miner Riot Blockchain Inc., with 8,388 BTC, 8,027 BTC, and 6,974 BTC respectively.
Crypto exchange Coinbase holds 4,488 BTC, Galaxy Digital holds 4,000 BTC, Bitcoin Group SE holds 3,589 BTC, Hive Blockchain holds 2,351 BTC, and Argo Blockchain holds 2,317 BTC. Combined, these 10 companies hold a total of 62,020 BTC, less than half of what MicroStrategy holds.